Spanos Barber Jesse & Co. Sells Portfolio Company STAT Health to Warburg Pincus Backed CityMD
May 30, 2018
Spanos Barber Jesse & Co. (“SBJ”) is pleased to share the closing of the previously announced sale of STAT Health (“STAT”) to CityMD, the leading urgent care provider in the New York metro area. SBJ partnered with Co-Founder and President Dr. Paolo Coppola to acquire STAT in May 2016.
“It has been an honor and privilege leading STAT Health over the last 13 years, and I would like to thank SBJ for their valuable support,” said Dr. Coppola.
Gus Spanos, Co-Founder and Managing Director at SBJ commented, “We have enjoyed partnering with Dr. Coppola and the entire STAT team. While this opportunity with CityMD and Warburg Pincus materialized sooner in our investment than we had anticipated, we were provided a compelling offer from our most logical acquirer.”
STAT centers will be rebranded as CityMD and will continue to provide the same prompt, patient-focused care for which the Company is known. The acquisition brings CityMD’s total centers to 100 in the New York metro area.
The original transaction press release can be found here: https://goo.gl/4HsGyPBack to Press